American Business History

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Progressive Era

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American Business History

Definition

The Progressive Era was a period of social activism and political reform in the United States from the 1890s to the 1920s, aimed at addressing issues caused by industrialization, urbanization, and political corruption. It was characterized by a movement to increase government intervention in the economy to curb the power of monopolies and improve public welfare, leading to significant legislative changes such as antitrust laws and the establishment of regulatory agencies.

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5 Must Know Facts For Your Next Test

  1. The Progressive Era saw significant public outcry against trusts and monopolies, which were seen as stifling competition and exploiting consumers.
  2. Key legislative acts during this time included the Sherman Antitrust Act of 1890, which aimed to break up monopolies and prevent anti-competitive practices.
  3. The Federal Trade Commission was established in 1914 as a key agency to enforce antitrust laws and promote fair competition in the marketplace.
  4. Women played a crucial role in the Progressive movement, advocating for reforms such as suffrage, labor rights, and improved living conditions.
  5. The era is marked by significant social changes, including the rise of labor unions, women's rights movements, and various public health initiatives.

Review Questions

  • How did the Progressive Era influence the regulation of businesses and monopolies in America?
    • The Progressive Era significantly influenced business regulation by fostering a strong response against monopolies that were seen as harmful to competition and consumers. The era led to the implementation of key antitrust legislation, like the Sherman Antitrust Act, which aimed to dismantle monopolistic structures. This movement for reform created a foundation for government involvement in regulating business practices to ensure fairness and protect consumer rights.
  • Evaluate the impact of the Federal Trade Commission on business practices during the Progressive Era.
    • The establishment of the Federal Trade Commission (FTC) in 1914 marked a turning point in how businesses were regulated during the Progressive Era. The FTC was empowered to investigate unfair business practices and enforce compliance with antitrust laws. Its ability to promote fair competition helped shape a more equitable market environment, curbing deceptive practices and monopolistic behaviors that had previously flourished unchecked.
  • Assess the significance of women’s involvement in the Progressive Era and its long-term effects on American society.
    • Women's involvement in the Progressive Era was crucial as it not only propelled various social reforms but also laid groundwork for future movements such as women's suffrage. Through their activism, women highlighted issues like labor rights, public health, and education reform. This engagement marked a transformative period that expanded women's roles in society and politics, leading to greater advocacy for gender equality that continued to evolve in subsequent decades.
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